Why state-run bank will be a disaster

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Cape Town - The Organisation Undoing Tax Abuse (OUTA) cautioned against the call for a state-run bank following a scandal by banks allegedly manipulating the rand.

"The idea of a state-controlled bank smacks of ulterior motives and OUTA believes that in light of the current high levels of corruption and squandering of state funds within government, a state-run bank under the control of the current government leadership could be a recipe for disaster."

READ: '10% rand rigging fine for banks is peanuts'

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